Financial Considerations

 

In terms of financial planning, it is vital to keep in mind that living abroad (particularly in large cities) can be very expensive with regard to day-to-day needs. In addition, if you plan to travel while abroad, this is an additional expense for which you must plan realistically. Think about it in these terms: an international student tells you it is very expensive to live here at Millersville, and then tells you that during the course of his stay that he traveled to Florida, California, New York, Washington state and Canada! If this type of travel would be costly for you during a regular semester, similar travel plans internationally would be exactly the same with regard to expense. Always keep your travel plans in financial perspective when you are abroad. You will need to take extra money with you.
In addition, it is next to impossible to work abroad legally. Therefore the money you have when you leave will be the money you have for the duration of your study abroad experience.

In terms of financial aid and study abroad there are several consideration.

  1. If you qualify for federal and/or state financial aid, you may apply it to your accredited study abroad program.
  2. For students studying abroad during the summer, please note that most financial aid requires that a student be registered for a minimum of 6 credits in order to be eligible for financial aid. Please be aware that any aid received during the summer will detract from the amount of aid available to you for the following academic year. Please discuss these issues directly with the Office of Financial Aid.
  3. If you study abroad for the full academic year or Spring semester, it is important to keep in mind that the release of financial aid for the following Summer or Fall academic term, may be delayed while Millersville awaits the receipt of your academic transcript from the international institution. For a variety of reasons, Spring semester study transcripts from international universities (for those programs ending in May or June) will not arrive until mid to late July. Transcripts from Spring semester study in the southern hemisphere, such as in Chile or Australia (which typically end in mid to late July) will not arrive until early September. Because Millersville University cannot confirm that you have satisfactorily completed minimum full-time study for the previous academic year without the transcript, your financial aid will be placed on hold until the transcript is received. To ensure that your aid is released in a timely manner, we suggest you appeal to financial aid indicating that you are studying abroad. The official appeal form will be mailed to your permanent home address by the Office of Financial Aid in late May and will be due in mid-June. This process will release your aid before the bill is due even if the transcript has not arrived. Please note that Power of Attorney may be required if you will need someone else to complete this form for you in your absence. Please also be aware that if your transcript arrives showing that you have not made the minimum required academic progress, you will be required to immediately reimburse the Office of Financial Aid for any money received. Failure to do so will result in a hold being placed on your account at Millersville University.

Scholarships have individual regulations, and students should contact the Financial Aid Office to determine if their scholarship is transferable. Students can look into grants such as the Rotary Scholarships which cover all expenses, including room, board, tuition, and airfare. This scholarship form must be completed one to one-and-one-half years in advance and is available from any Rotary Club.

StudyAbroadFunding.org is a new online directory with detailed information on hundreds of scholarships, grants, and fellowships available for undergraduate and graduate study, and doctoral and post-doctoral research outside of the United States. The website officially launched in the spring of 2006, so please continue to check the site as more opportunities will be added as the site grows. Another option is to research online or stop by our office for additional opportunities.

Please note that any Financial Aid inquiries must first go to the Financial Aid Office.